Market Update-
Yesterday we got a wick below $40k, which is something we have been saying was a possibility for the last few days. Since then, BTC did bounce strongly, but we can see here on the 4h chart that it is struggling to break the resistance of the descending channel.
A break above $42.5k and move towards $45k is needed for us to be confident of a reversal here and that we have seen the local bottom. If we lose $40k again, we could well see the long wick from yesterday filled.
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